Financing home purchase in China, with special reference to Guangzhou

Si Ming Li; Zheng Yi

doi:10.1080/02673030701254178

Financing home purchase in China, with special reference to Guangzhou

Si Ming Li^*, Zheng Yi

^*Corresponding author for this work

Centre for China Urban and Regional Studies

Research output: Contribution to journal › Journal article › peer-review

50 Citations (Scopus)

Abstract

This paper examines the role of personal housing loans in advancing homeownership in urban China. The focus is on the Housing Provident Fund (HPF) and commercial bank mortgage loans. National data show that the use of HPF loans and bank loans has only become more common since 1998, but their share of the total expenditure on home purchase remains relatively small. Data derived from household surveys conducted in Guangzhou in 2001 and 2005 show that personal savings and parental contributions are the most important sources of home finance. The affordability of housing is closely tied to personal savings. To date, access to mortgage finance has played a relatively minor role in China's drive towards homeownership.

Original language	English
Pages (from-to)	409-425
Number of pages	17
Journal	Housing Studies
Volume	22
Issue number	3
DOIs	https://doi.org/10.1080/02673030701254178
Publication status	Published - May 2007

Scopus Subject Areas

Environmental Science (miscellaneous)
Sociology and Political Science
Urban Studies

User-Defined Keywords

China
Financing home purchase
Guangzhou
Housing Provident Fund
Mortgage loans

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

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10.1080/02673030701254178

Cite this

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title = "Financing home purchase in China, with special reference to Guangzhou",

abstract = "This paper examines the role of personal housing loans in advancing homeownership in urban China. The focus is on the Housing Provident Fund (HPF) and commercial bank mortgage loans. National data show that the use of HPF loans and bank loans has only become more common since 1998, but their share of the total expenditure on home purchase remains relatively small. Data derived from household surveys conducted in Guangzhou in 2001 and 2005 show that personal savings and parental contributions are the most important sources of home finance. The affordability of housing is closely tied to personal savings. To date, access to mortgage finance has played a relatively minor role in China's drive towards homeownership.",

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author = "Li, {Si Ming} and Zheng Yi",

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T1 - Financing home purchase in China, with special reference to Guangzhou

AU - Li, Si Ming

AU - Yi, Zheng

N1 - Funding Information: The authors are indebted to the anonymous referees and the editors of Housing Studies for their valuable comments and suggestions. They would also like to acknowledge the support of the Hong Kong Research Grant Council (Grant No. HKBU 2135/04H). The usual disclaimer applies.

PY - 2007/5

Y1 - 2007/5

N2 - This paper examines the role of personal housing loans in advancing homeownership in urban China. The focus is on the Housing Provident Fund (HPF) and commercial bank mortgage loans. National data show that the use of HPF loans and bank loans has only become more common since 1998, but their share of the total expenditure on home purchase remains relatively small. Data derived from household surveys conducted in Guangzhou in 2001 and 2005 show that personal savings and parental contributions are the most important sources of home finance. The affordability of housing is closely tied to personal savings. To date, access to mortgage finance has played a relatively minor role in China's drive towards homeownership.

AB - This paper examines the role of personal housing loans in advancing homeownership in urban China. The focus is on the Housing Provident Fund (HPF) and commercial bank mortgage loans. National data show that the use of HPF loans and bank loans has only become more common since 1998, but their share of the total expenditure on home purchase remains relatively small. Data derived from household surveys conducted in Guangzhou in 2001 and 2005 show that personal savings and parental contributions are the most important sources of home finance. The affordability of housing is closely tied to personal savings. To date, access to mortgage finance has played a relatively minor role in China's drive towards homeownership.

KW - China

KW - Financing home purchase

KW - Guangzhou

KW - Housing Provident Fund

KW - Mortgage loans

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Financing home purchase in China, with special reference to Guangzhou

Abstract

Scopus Subject Areas

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UN SDGs

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